Vietnam’s index of industrial production (IIP) experienced a
year-on-year increase of 6.7 percent from January to September 2014, the
highest growth rate since the beginning of this year.
The
General Statistics Office (GSO) also reported that during the nine-month
period, the processing and manufacturing sector, which accounted for 70
percent of total industrial output, achieved an encouraging 8.3-percent
growth.
Industrial products recording the highest growth
included handsets with 72.3 percent; electronics, computers and optical
equipment with 35.9 percent; leather products and footwear with 31.3
percent; and electrical output with 13.1 percent.
Products with
lower growth rates include crude oil and steel at only 3.2 percent each;
chemicals at three percent; and pharmaceuticals at 0.9 percent.
Products with declining rates include sugar, which fell by 25.6 percent;
and powdered milk, by 23.3 percent.
In spite of the nine-month
growth, the nation’s IIP remained equal to one-third of the growth seen a
few years ago, GSO experts said. They attributed this to low
consumption and a high inventory index, which stood at 11.6 percent.
The
industry and trade sector in 28 northern cities and provinces will
strive to achieve an IIP of 2.17 quadrillion VND (more than 102 billion
USD) this year. Achievement of this target will lead to a 22.5-percent
year-on-year increase.
The cities and provinces, including Lao
Cai, Ha Giang, Lang Son and Bac Giang, as well as Thai Binh, Hanoi and
Hai Phong, crafted 12 specific solutions to meet the target, including
accelerating the construction of infrastructure projects and industrial
zones; enhancing the application of information and technology in
resolving administrative procedures; and strengthening the association
among provinces.-VNA